Measuring wealth and financial intermediation and their links to the real economy / edited by Charles R. Hulten and Marshall B. Reinsdorf.

Online resource; title from electronic title page (viewed February 24, 2015).

Includes bibliographical references and indexes.

This volume examines economic measurement in light of lessons learned in the financial crisis. It investigates how gaps in the data contributed to our failure to spot emerging risks to financial stability before and during the crisis, describing strategies for filling these gaps and for coping with the inherent dynamism of the financial marketplace. It discusses recent changes in measuring financial activity in the areas of defined benefit pension plans and cross border investment income. And it uses micro data to investigate the effects of the crisis on households and nonfinancial businesses.

Prefatory Note -- Introduction / Charles R. Hulten and Marshall B. Reinsdorf -- Part I. Advancing Economic and Financial Measurement Practice: Lessons from the Financial Crisis -- Chapter 1. Integrating the Economic Accounts: Lessons from the Crisis / Barry Bosworth -- Chapter 2. Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Could They Change? / Matthew J. Eichner, Donald L. Kohn, and Michael G. Palumbo -- Chapter 3. Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions / Leonard Nakamura -- Chapter 4. Shadow Banking and the Funding of the Nonfinancial Sector / Joshua Gallin -- Chapter 5. Financial Intermediation in the National Accounts: Asset Valuation, Intermediation, and Tobin's q / Carol A. Corrado and Charles R. Hulten -- Part II. Advances in Measuring Wealth and Financial Flows -- Chapter 6. Adding Actuarial Estimates of Defined- Benefit Pension Plans to National Accounts / Dominque Durant, David Lenze, and Marshall B. Reinsdorf -- Chapter 7. The Return on US Direct Investment at Home and Abroad / Stephanie E. Curcuru and Charles P. Thomas -- Chapter 8. US International Financial Flows and the US Net Investment Position: New Perspectives Arising from New International Standards / Christopher A. Gohrband and Kristy L. Howell -- Part III. How Did the Financial Crisis Affect Households and Businesses? -- Chapter 9. Household Debt and Saving during the 2007 Recession / Rajashri Chakrabarti, Donghoon Lee, Wilbert van der Klaauw, and Basit Zafar -- Chapter 10. Drowning or Weathering the Storm? Changes in Family Finances from 2007 to 2009 / Jesse Bricker, Brian Bucks, Arthur Kennickell, Traci Mach, and Kevin Moore.

Chapter 11. The Misfortune of Nonfinancial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks / Hui Tong and Shang- Jin Wei -- Contributors -- Author Index -- Subject Index.

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